Magical Mystery Tax Plan

While tax reform is definitely coming, a final bill is still a long way off, and a 2017 effective date is looking less likely.

By

Randall W. Forsyth

Updated Feb. 11, 2017 2:22 a.m. ET

By

Randall W. Forsyth

Updated Feb. 11, 2017 2:22 a.m. ET

What’s a word worth? If the word is “phenomenal” and it’s uttered by Donald Trump, apparently $175 billion.

That’s how much the value of U.S. stocks increased on Thursday, according to Wilshire Associates’ calculations, after the president used that word to describe the tax plan that, he said, his administration would bring forth “ahead of schedule.” The ascent continued on Friday, adding another $100 billion to shareholders’...